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Afreximbank to Support in Sub-Sovereign Governments Investments in Africa

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Zanamwe

Mr. Zanamwe presented a series of instruments and products developed by Afreximbank to assist sub-sovereign governments in identifying business and trade opportunities

KISUMU, Kenya, June 10, 2023/APO Group/ — 

The hosting of the 29th session of the Executive Committee of the United Cities and Local Governments of Africa (http://www.UCLGA.org) at Ciala Resorts in Kisumu, Kenya, offered the opportunity to organize a workshop on June 2nd, 2023 for the African Export-Import Bank (Afreximbank) to address the leaders of Subnational and local governments of Africa.

The workshop was organized at the initiative of Kisumu County Government in partnership with UCLG Africa and Afreximbank. Were in attendance leaders of subnational and local governments, including the governors and deputy governors of the Lake Region Economic Bloc, the members of the UCLG Africa Executive Committee and Secretariat, and the officials and officers of Kisumu County government.

The Governor of Kisumu, Prof. Peter Anyang’ Nyongo’o highlighted the importance of the creation of this initiative. “We appreciated the possibility of the Afreximbank coming on board to support subnational governments. The leadership of UCLG Africa have for long time battled on this, and hence set up the the Africa Territorial Trade and Investment Agency (ATIA). This contributes to this opportunity today that we welcome to this platform Afreximbank. Together we believe Africa will be develop”, he said. 

“Every development is local. It means that, if you want to grow, you start locally. We created ATIA, because we wanted that Subnational Local Governments of Africa participated  in the realization of the African Continental Free Trade Area (AfCFTA). UCLG Africa signed a Memorandum of Understanding (MoU) with Afeximbank to improve the level of investments at the sub-sovereign level of governance have investments brought by the bank or to convince people with investments to get in to our Subnational Local Governments Network. So that this become a changing agents for the development of this continent”, said Mr. Jean Pierre Elong Mbassi, Secretary General of UCLG Africa. 

Notice that the MoU signed between Afreximbank and UCLG Africa, contains a detailed Implementation Plan that will ensure the ideals of the collaboration to improve the governance and economic conditions of Sub-Sovereign Governments are achieved and that a Data Management System is developed to boost economic development in African Regions.  

Dr. Gainmore Zanamwe, Acting Director, Intra-African Trade Bank, made a presentation of key Afreximbank financing products of interest for Sub-Sovereign Governments. “We want to work with you to help you to build your development projects. And for those who have already launched their projects, we can support you to find investors. Because we do believe that, business is actually done at the subnational level”, he explained.  

Mr. Zanamwe presented a series of instruments and products developed by Afreximbank to assist sub-sovereign governments in identifying business and trade opportunities and supporting the design of a portfolio of bankable projects that would participate in changing the sustainable development trajectory of sub sovereign governments in Africa.  

Among these instruments and products Mr. Zanamwe highlighted the following:

–Afreximbank Project Preparation Facility (APPF) : A key instrument through which the Bank supports the development of projects from conceptualization to a stage of their bankability in order to attract the attention of investors;

The leadership of UCLG Africa have for long time battled on this, and hence set up the the Africa Territorial Trade and Investment Agency (ATIA)

–African Continental Free Trade Area (AfCFTA) Adjustment Fund: The Fund supports African countries and the private sector to effectively participate in the new trading environment established under the AfCFTA.

–Transit Guarantee Scheme: That facilitates the movement of goods within the Regional Economic Communities (RECs) or throughout the continent using a single technology that enables continental bonds to promote intra-African trade under the AfCFTA

–Industrial Parks and Special Economic Zones, to facilitate the emergence and expansion of Industrial Parks (IPs) and Export Processing Zones (EPZs), focusing on light manufacturing and agro-processing. 

–Export Trading Companies: address institutional market failure by providing market intelligence, aggregating products, finding markets and assisting manufacturers, SMEs and informal cross-border traders to participate in international trade. 

–The Africa Trade Gateway : Internet Platform dedicated to African International Trade at Africa.

-Intra-African Investment Finance: focus on financing promotion of Foreign Direct Investment or African Direct Investment. It supports setting up and/or expansion of businesses by an entity from one African country in another African country

–Intra-African Investment Guarantee : which purpose is to protect investors against risk events that may impair their investment rights or earnings

–Contracting Related Guarantees: To reissue a wide range of specialized guarantees (i.e. bid bonds, performance bonds, advance payment guarantees and retention bonds) issued by FIs to African construction/contracting companies to conduct construction services in other African countries.

Participants expressed interest to receive support for Afreximbank to write banckable projects and to be get access to investors. During the very lively debate that followed Afreximbank’s presentation, Mr. George Mwanza, Mayor of Chapati City (Zambia) and vice-President of the Network of African Young Elected Local Officials (YELO), advocated for a « strong involvement of Youth and Women in the financings of projects, but only through UCLG Africa, as delivery and implementing partner of Afreximbank ». 

After having commented and responded to questions raised during the debate, M. Zanamwe extended an invitation to the workshop attendees to participate in the Intra-African Trade Fair (IATF 2023), to be held in Cairo, Egypt from 9 to 15 November 2023.  

After the historic success of Africities 9, held in Kisumu, in May 2022, summit that welcomed 13 000 participants, a new milestone will be the organization of the Kisumu Investment Forum to be held in October 2023 as the result of the ongoing study on Local Economic Development  of the Kisumu County co-organized by the Kisumu County government, Afreximbank, and UCLG Africa. 

Distributed by APO Group on behalf of United Cities and Local Governments of Africa (UCLG Africa).

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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